Nasdaq, S&P 500 close higher for fourth consecutive session

The Nasdaq Composite (^IXIC) leads stocks to another positive day for markets this week, the index rising by 1%. The Dow Jones Industrial Average (^DJI) lingered in negative territory until midday, closing by 0.58% higher. The S&P 500 (^GSPC) popped by three-quarters of a percent.

Market Domination Overtime's Julie Hyman eyes the gains seen from the homebuilding sector (XHB) and Nasdaq 100 (^NDX) tech leaders.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video transcript

There's the closing bell on Wall Street, and now it's market domination over time, sponsored by tasty trade.

Let's get you up to speed on the action from today's session.

So rally here.

Uh, the Dow actually was negative for much of the day, but then turned higher in the afternoon and stayed there, finishing near the highs of the session.

I can say at the highs of the session, up about a half of 1% here, 235 points.

The S and P 500 also up about three quarters of 1%.

4th straight day that we have seen that gain for the S and P and the NASDAQ as well, fourth straight gain, up by 1% on the day.

We've been talking about the strength that we have been seeing in technology over the course of the day.

I wanted to look at some of the other leaders in the absence of Jared Bry, who was out.

He was one of his favourite, the sort of sentiment indicators that he looks at and some interesting ones on this list.

First up, we have the home builders ETF up as we saw mortgage rates yet, uh, tick down yet again to 6.2%.

So that group up by 2.2%.

They tend to move on sentiment there, arc.

Uh, that is the arc, uh, investment sort of benchmark ETF that invest in sort of transformative technologies up 1.7% retail up 1.6% as well.

So an interesting mix here of what's doing well, solar, though falling today about one and a quarter percent after some recent gains.

And then as we look at what's going on in large cap tech today, we've been talking about seeing some interesting gains.

Just wanted to equal weight it for a moment to show you just how much the breadth of gains in the NASDAQ 100 here.

Moderna, of course, falling the most.

We talked about that earlier after the company, uh, came out with a disappointing sales forecast and also cut its R and D budget.

Uh, but then we've got the magnificent seven that are up quite a bit here today.

NVIDIA continuing its run meta continuances run as well Broadcom a stand out as we saw some action in the chips up by about 4% today.

Now, so really, uh, quite a number of large cap tech movers to point to today, Josh.